Are you thinking about buying an electric vehicle (EV)? Even though EVs account for a very small percentage of car sales, the market is slowly growing. Consider that global EV sales rose 40 percent between 2019 and 2020, due to the growing number of affordable electric cars and rising fuel costs.
If you’re considering switching over to an electric car, here are five important things to know.
1. Electric cars are more cost-effective in the long run.
Even though there are more affordable models of EVs, they still tend to cost more than petrol and diesel cars. This is mostly because of their batteries, yet in recent years, these prices have fallen significantly.
You should also consider your long term costs, and in this case, EVs come out on top. You can eliminate fuel costs and maintenance services. Plus, you can get money back from the incentives and tax breaks that are still available.
2. There are more models of EVs rolling out each year.
Over the next few years, there are tons of EVs rolling out. Some have been officially unveiled with specific launch dates, while others are still in the works. Many legacy automakers have announced that they’re adding an electric-only lineup, while startup EV makers are also becoming more common.
Even Apple and Sony are considering making their own electric cars! Some of the EVs we’re looking forward to seeing are the 2023 BMW i7, the 2024 Buick Electra and the 2025 Chrysler Airflow.
3. The U.S. is still offering incentives for EVs.
Some states have better incentives than others. For example, California offers the most support for EV buyers. Residents can qualify for up to $7,000 in state incentives through their Clean Vehicle Rebate Project. On the other hand, Alaska, Alabama and West Virginia offer little support to EV buyers.
There is also a federal tax credit worth up to $7,500 for certain alternative-energy cars. However, it only applies to new car sales – not leased vehicles – and some electric cars are no longer eligible. Still, it’s worth looking into!
4. EVs mean no more gas stops!
Average fuel costs right now are over $5.00 per gallon. It’s certainly not cheap to drive, but with an electric car, you can save on fuel costs and eliminate inconvenient trips to the gas station. Instead, the ‘fuel’ comes to you.
Most charging happens at home or work using a Level 2 charging station. Also, consider that up to 80 percent of a battery’s energy powers an electric car. In comparison, gas vehicles use most of the energy that they produce.
5. Chances are low that you’ll actually run out of battery.
About 57 percent of consumers avoid EVs because they’re worried about running out of power (something called range anxiety), but in reality, it’s only happened to about 5 percent of drivers.
Drivers get plenty of warning that their battery is low. It won’t just suddenly die out. In fact, some of the latest models have navigation systems that show you the closest places to charge your battery. Also, the range increases with new vehicles, which means there’s hardly any new EVs on the market that have less than a 250-mile range.
Electric vehicles are not just the future, they are a popular trend today, especially with the increase in gas prices. To shop for used EVs, visit RepoFinder today! We’re always getting in new vehicles, including some electric cars.